Preview

Supply and Demand and Correct Option

Satisfactory Essays
Open Document
Open Document
4560 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Supply and Demand and Correct Option
Composed & Solved Hafiz Salman Majeed & Maha Shah www.vuaskari.com

ECO401 Current Online 85 Quizzes Question Repeated ignore… In Green color are doubted one…
Question # 1 of 15 ( Start time: 01:24:42 PM ) Total Marks: 1 A person with a diminishing marginal utility of income: Select correct option: Will be risk averse. Will be risk neutral. Will be risk loving. Cannot decide without more information. We know that the demand for a product is elastic if: Select correct option: When price rises, revenue rises. When price rises, revenue falls. When price rises, quantity demanded rises. When price falls, quantity demanded rises The demand for chicken is downward-sloping. Suddenly the price of chicken rises from Rs. 130 per kg to Rs. 140 per kg. This will cause: Select correct option: The demand curve of chicken to shift to the right. The demand curve of chicken to shift to the left. Quantity demanded of chicken to increase. Quantity demanded of chicken to decrease A Demand Curve is price inelastic when: Select correct option: Changes in demand are proportionately smaller than those in price. Changes in demand are proportionately greater than those in price. Changes in demand are equal than those in price. None of the given options the income elasticity of demand is 1/2, the good is: Select correct option: A luxury. A normal good (but not a luxury). An inferior good. A Giffen good.

Note: Solve these papers by yourself This VU Group is not responsible for any solved content

Composed & Solved Hafiz Salman Majeed & Maha Shah www.vuaskari.com
It is expected that the sign of cross price elasticity of demand between two complementary goods would be: Select correct option: Positive. Negative. Zero. Ambiguous. A nation's production possibilities curve is "bowed out" from the origin because: Select correct option: Resources are not perfectly shiftable between productions of the two goods. Capital goods and consumer goods utilize the same production technology. Resources are
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    EGT1 Task 2
    • 932 Words
    • 4 Pages

    EGT1 Task 2

    Cross-price elasticity measures the responsiveness of the demand for a good to a change in the price of another good. When measuring the cross price elasticity, the coefficient can be either negative or positive (McConnell, 2012). Substitute Goods is a positive cross elasticity. When similar manufactured goods move in the same direction when there is a change in price. Let’s compare iPads and Tablets, when the price of the iPads increases, the demand for Tablets increases. Complementary Goods are negative cross elasticity. This happens when products move in the opposite direction as the sales of another product. An example of this would be laser printer and ink cartridges. When the price of printers decreases, the demand for ink cartridges would increase. The larger the negative cross-price elasticity confident, the greater is the complementarity between the two goods.…

    • 932 Words
    • 4 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Economics: Supply and Demand
    • 393 Words
    • 2 Pages

    Economics: Supply and Demand

    3. From November 2007 to March 2008, the price of gold increased from $865 an ounce to over $1,000 per ounce. The increase in price had little to do with the increase in demand from the jewelry industry but…

    • 393 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Supply and Demand and Correct Answer
    • 1186 Words
    • 5 Pages

    Supply and Demand and Correct Answer

    A price ceiling set below the equilibrium price means that the quantity supplied ____ the quantity demanded so that a ____ exists.…

    • 1186 Words
    • 5 Pages
    Good Essays
    Read More
  • Good Essays

    Supply and Demand
    • 1063 Words
    • 5 Pages

    Supply and Demand

    Sports teams are switching to a variable-pricing strategy for tickets so that they can get a higher profit on games with record attendance numbers. They feel the need to do so because the marginal costs, such as construction payment and players’ salaries, did not equal to the marginal revenue, since attendance was severely dropping. To pay for the marginal cost, the sports team needed to capitalize on things that they were sure of, like increasing attendances to games between major sporting rivals.…

    • 1063 Words
    • 5 Pages
    Good Essays
    Read More
  • Good Essays

    Supply and Demand
    • 706 Words
    • 3 Pages

    Supply and Demand

    In the ECO/365 course you are taken through a simulation, where you are asked to manage the supply and demand of two-bedroom apartments. The apartments are located in a city called Atlantis, which seems to be a very attractive place to live. The stimulation is used to provide the learner with real-life situation of how the pricing of a good or service (price ceiling) can affect the quantity demand, and the quality supplied. Throughout the simulation the learner is asked to price the rate of the two-bedroom unit. And based on the rate, you are given the results of your actions, and how it affected the market.…

    • 706 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Supply and Demand
    • 3087 Words
    • 13 Pages

    Supply and Demand

    1. A firm's current profits are $1,000,000. These profits are expected to grow indefinitely at a constant annual rate of 3.5 percent. If the firm's opportunity cost of funds is 5.5 percent, determine the value of the firm:…

    • 3087 Words
    • 13 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Supply and Demand and True Question
    • 710 Words
    • 3 Pages

    Supply and Demand and True Question

    The private ownership of property resources and use of prices to direct and coordinateeconomic activity is characteristic of:…

    • 710 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Chapter 4
    • 440 Words
    • 2 Pages

    Chapter 4

    5.General cereals are using a regression model to estimate the demand for tweetie sweeties, a whistle shaped sugar coated breakfast cereal for children. the following(multiplicative exponential) demand function is being used: QD=6,282P-2.15A1.05N3.70 where QD = quantity demanded, in 10ox boxes…

    • 440 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Supply and Demand and Price
    • 1551 Words
    • 7 Pages

    Supply and Demand and Price

    Name two types of market failure. Explain why each may cause market outcomes to be inefficient.…

    • 1551 Words
    • 7 Pages
    Good Essays
    Read More
  • Better Essays

    Supply and Demand and Price
    • 1988 Words
    • 8 Pages

    Supply and Demand and Price

    Michigan has an abundant supply of fresh water. However, an economist would consider it a scarce resource because…

    • 1988 Words
    • 8 Pages
    Better Essays
    Read More
  • Powerful Essays

    Demand and Supply
    • 1817 Words
    • 8 Pages

    Demand and Supply

    The Unites States economy shapes so many multifaceted interactions amidst health care employment, costs, health care coverage, as well as economic access to health outcomes and health care. In this paper, the student will select a service, such as health information technology, and discuss the effects on consumer demand on health information technology versus the economic variables of cost, access, and supply. In addition, the student will support her perspective and rationale for the continued provision of health information technology based on supply chain models.…

    • 1817 Words
    • 8 Pages
    Powerful Essays
    Read More
  • Good Essays

    supply and demand
    • 279 Words
    • 1 Page

    supply and demand

    What are the effects of international trade to GDP, domestic markets, and university students? International trade comprises exports and imports, the net result of which affects our GDP. Since our imports exceed our exports, our GDP would be impacted by our net exports or deficits. “The rippling effect of financing deficits is an increase in interest rates from selling bonds that reduces investments and growth. This further reduces GDP” (Colander. 2010). Domestic markets flourish when there is a demand for local products overseas. If the domestic markets have to compete with imported products it could be a struggle. However jobs can be created for the advertising, sales, and distribution of foreign imports. The effect of international trade on university students has recently brought about an awareness of a vibrant industry in the education services. Of the 35 billion dollar worldwide market for international students, the U S was able to capture a market share of 45%, showing a healthy surplus of $12.6 Billion in higher education..…

    • 279 Words
    • 1 Page
    Good Essays
    Read More
  • Good Essays

    Essay Supply and demand
    • 633 Words
    • 2 Pages

    Essay Supply and demand

    Explain (in your own words) the dynamics of equilibrium price. That means to say, teach me step-by-step how the laws of supply and demand combine with basic assumptions about shortages and surpluses to lead to a concept of market equilibrium. In this essay, be sure to include definitions and examples.…

    • 633 Words
    • 2 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    WK4 ASA: Managerial Economics and Business Strategy - Chapter 3
    • 461 Words
    • 2 Pages

    WK4 ASA: Managerial Economics and Business Strategy - Chapter 3

    Suppose the own price elasticity of demand for good X is -2, its income elasticity is 3, its advertising elasticity is 4, and the cross-price elasticity of demand between it and good Y is -6. Determine how much the consumption of this will change if:…

    • 461 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Economic Demand and Supply
    • 1544 Words
    • 7 Pages

    Economic Demand and Supply

    Nescafe is one of the beverages product produced by Nestle Company. It is a brand of coffee that suits to everyone who loves coffee so much. It comes in the form of many different products such as Nescafe Original, Nescafe Classic and Nescafe Gold that totally will give different tastes and experiences to its consumers. It is consumed by people staying in urban, semi urban and rural areas.…

    • 1544 Words
    • 7 Pages
    Powerful Essays
    Read More

Related Topics